A new Blockchain Research Institute has launched in Toronto with $2 million in funding from several companies and the Ontario government. The goal of the Institute is to study blockchain’s effect on various industries.
The Toronto Star reported that blockchain experts and father-and-son duo Don and Alex Tapscott co-founded the Institute. Founding members include Accenture, IBM, SAP, Digital Asset, NASDAQ, PepsiCo, Centrica, Liberty Global, the Government of Ontario, and University Health Network. Canadian blockchain pioneers Paycase and Nuco are also involved.
In the future, the Institute is looking to partner with a Canadian university, and expects its funding to rise up to $5 million.
Tapscott said that 30 of the “the world’s leading experts” will be hired to conduct 30 projects, which will focus on how blockchain will change manufacturing, healthcare, government, and banks.
The Tapscotts are the authors of The Blockchain Revolution, which looks at the disruptive potential of blockchain. In particular, the Tapscotts note that blockchain could be key to addressing social and economic inequality, since the people who create value using blockchain get to keep the value.
The initial program will begin on April 3, 2017, and will be completed on December 20, 2017.
Photo via Carlos Osorio / The Toronto Star